Course Overview

ICB Level 3 Certificate in Bookkeeping and Accounts - Full Membership MICB

Course code: OSC1340

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Are you interested in bookkeeping and accounts? With this course you will receive all you need to know about just that, from home!

Study with an award-winning home learning provider with tutor support!

Watch our video with ICB CEO, Garry Carter. Please note that the levels of study and membership have now changed. Level 3 is now Full Membership.

  • Gain the knowledge and skills to become a qualified bookkeeper.
  • Learn how to produce the final accounts for sole traders, partnerships and not-for-profit organisations in both manual and computerised systems.
  • This course includes FREE Sage 50 Workbook software for you to practise real bookkeeping throughout your course.
  • On successful completion of this course, you will be a fully qualified bookkeeper. You will be able to gain Full member status with the ICB, allowing you to use the letters MICB after your name. You would also be able to work as a self employed/employed bookkeeper.

Please note: To enrol on this course you will need to have achieved an ICB Level 2 Certificate in Bookkeeping or its equivalent with another awarding body.

Discounts on selected courses - Until 26th November
Course Content

Course content

Topic 1 - Underpinning knowledge

  • Understand the importance of adhering to a code of ethical principles
  • Understand when and how to take appropriate action to cope with unethical behaviour
  • Understand the legal differences between the structures of various types of businesses
  • Understand the main accounting concepts that apply
  • Understand the various Accounting Standards that are applied to the production of year end accounts
  • Understand the different VAT schemes that are available for use
  • Understand the importance of being able to clearly communicate relevant information
  • Understand the requirements for uploads to HMRC under Making Tax Digital (as and when introduced)

Topic 2 - Reconcile Accounts and Correct Errors

  • Reconcile debtors and creditors control accounts
  • Write off a bad debt
  • Correct errors in the accounts

Topic 3 - Reconcile and Produce a VAT return

  • Reconcile the VAT account
  • Complete a VAT return

Topic 4 - Calculate and Post Adjustments to the Accounts

  • Account for the disposal of fixed assets
  • Understand the need to allow for, and be able to post, adjustments to the accounts
  • Provide for revaluation of assets

Topic 5 - Produce draft final accounts for internal management purposes

  • Prepare a set of final accounts suitable for internal management purposes
  • Calculate and post relevant amounts to appropriate profits as required
  • Adjust capital share of partners

Topic 6 - Interpretation of financial statements

  • Understand the importance of interpreting financial statements for internal management purposes
  • Analyse and interpret financial statements
  • Prepare a cash budget
Other Information


The assessment for the qualification is formed into two sections.

Section 1: For this section you will complete four online tests, which can be taken at home or at work. These tests assess you on various reconciliation processes, plus the production of final accounts for non-incorporated business and not-for-profit organisations (in both a manual and a computerised system).

Section 2: For this section you are required to complete an exam at an approved ICB test centre. This will test the knowledge you have gained throughout the whole syllabus including topics from level 2.

Course Duration

You have a year to complete this course. This means you will receive 12 months tutor support. Whilst studying your course you will also be asked to install the Sage software (your materials will tell you when to do this). From the point when you have installed the software you will have 6 months to complete the computerised section.

Study Method

The course is designed for study by distance learning at home or at work, with unlimited tutor support by email.

Course Outcomes

With this bookkeeping course you have two options:

1) The course can be studied for personal interest and development, and with successful completion of the tutor marked assessments we can provide you with a completion certificate.

2) You can take all the necessary ICB examinations. On successful completion of this examination, you will gain an official ICB Level 3 Certificate in Bookkeeping and Accounts.


Your Questions Answered

What skills or requirements are there to enrol onto this course?

Before commencing the study at this level the candidate should have achieved ICB Level 2 Certificate in Bookkeeping or its equivalent with another awarding body. In addition, the software is provided via a downloadable link, so you will need a computer with internet access and storage space. 

What is included in the cost of my course?
  • Comprehensive study guide
  • ICB 1-year Annual Subscription and Registration fee worth £80.00 (it can take up to 6 weeks to process the registration)
  • Dedicated personal tutor support by email
  • Dedicated student support
  • Accreditation
  • Assignment marking and feedback
  • Ballpoint pen and highlighter
  • Student study planner
  • Student notebook
  • Document wallet
  • FREE Sage 50 Accounts software (available only as a download)
  • FREE CV writing service
  • FREE employability guide to help you impress future employers
Will the Sage software work on any computer?

The Sage 50 Accounts software will only work on computers which run Windows 7 or higher, therefore Sage will not run on Windows XP. Sage software will not run on any Apple Macintosh computer. Please email us for full specification and compatibility details. The software is only available as a download, so you will need internet access and storage on your computer.. 

Do I have to sit an exam?

You have the option of sitting the ICB examinations; however, if you choose not to take the exam, when you have completed your tutor-marked assessments we can issue you with a certificate proving that you have completed the course.

Are there any additional costs?

If you decide to sit the ICB exams, there will be a charge payable to the ICB and your chosen assessment centre.

What happens if I lose my course pack?

It’s not a problem. We offer a course replacement service, so if you get into trouble and your course pack is lost or damaged, our Student Support Team can provide you with a new set of materials for a one-time additional fee.

What if I still have questions?

That’s not a problem. We want to make sure you’re 100% confident about enrolling on the course and starting your study. So, just give our Student Support Team a call on 03300 563 100 and they’ll do their best to help.

Finance options

Provided by
Length Of Your Repayment
Your Deposit
Monthly payment:

Deposit to pay:

  • Cash Price:
  • Loan Amount:
  • Loan Repayments:
  • Cost of Loan:
  • Number of Monthly Payments:
  • Total Amount Payable:

The total course fee includes a loan arrangement fee. Your initial deposit payment will be used towards this fee, any remaining fee balance will be added the loan amount.

Provided by

Our finance option is provided in partnership with AffordItNow.
For your finance application to be considered you must meet the following criteria:

  • Be over 18 years old
  • Be employed for at least 16 hours a week or retired and in receipt of a private or company pension. Certain state benefit schemes may also be considered.
  • Be a permanent UK resident with a 3 year address history
  • Have a good credit history with no late payments, debt relief orders or bankruptcies
  • Have a valid email address and can access it

Please note that meeting the above criteria does not guarantee finance acceptance.

Open Study College, 6140 Knights Court, Birmingham Business Park, Birmingham B37 7WY is a licensed credit broker, authorised and regulated by The Financial Conduct Authority (licence number 724179 with FCA).